Balaji Telefilms to raise Rs 150 crore

Balaji Telefilms to raise Rs 150 crore

Balaji Telefilms has decided to raise Rs 150 crore through a preferential allotment to global investors at a price of Rs 140 per share.

The board of directors of Balaji Telefilms has considered and approved a preferential issue of 1.07 crore shares at Rs 140 each, aggregating to Rs 150 crore to Atyant Capital India Fund–I, Vanderbilt University, GHI LTP, GHI HSP and GHI ERP, subject to necessary approvals, the company said.

The proceeds of the issue will be utilised to catapult the launch and growth of ALT Digital Media Entertainment (ALT Digital Media).

ALT Digital Media will create highly differentiated, original digital content for the entire connected ecosystem spanning mobile devices, web, smart TVs and game stations.
The issue price represents a 26 per cent premium over the average of the weekly high and low of the volume weighted average share price of the Company during the past 26-week period.

The proposed issue will result in a dilution of 14.1 per cent of the equity share capital of the company and the post-issue promoter and promoter group holding in the company will be 40.6 per cent, it added.

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)